Indian Government Okays Cuddalore PCPIR; Big Cracker Planned

6:55 AM MDT | July 4, 2012 | Natasha Alperowicz

The Indian government today approved a proposal by the government of Tamil Nadu to set up of a previously announced Petroleum, Chemicals and Petrochemicals Investment Region (PCPIR) in the Cuddalore and Nagapattinam region. This is the first PCPIR to be approved after those already sanctioned in the states of Andhra Pradesh, Gujarat, West Bengal, and Orissa. A total investment of about Rs921.6 billion ($16.8 billion) is expected, including a committed investment of Rs221.6 billion. The project will be set up in coastal belt of Cuddalore on an area of 256.8...